Muthoot Finance had been running an offline reward program which incentivised its dealers with a fixed reward at the end of the campaign period. However this program never managed to motivate the dealers to positively respond to the program for couple of reason.
One the reward product which was offered was fixed and not all dealers were motivated by this, second the time lag between the confirmation of the award and its actual receipt by the dealers was a lot resulting in dissatisfaction. This was more because the company was doing the entire process offline.
FOXBOX developed a comprehensive Loyalty portal program for Muthoot Finance for its dealers to address its existing issues. Here the dealers received points which were credited to their accounts and they could redeem those points against 10-15 reward options. FOXBOX had selected the rewards keeping in mind the preference of the target group.
Once the dealer selects his choice of rewards, FOXBOX would immediately ship the goods to dealers place directly within a reasonable time and thus ensure great positive experience for the dealer.
The Loyalty portal helped Muthoot Finance to streamline such reward / loyalty programs for future with minimal intervention and that resulted in positive behaviour from the channel partners.